Government plan to close down the steel melting and steel re-rolling units across the country for one month from December 26th to January 31st next year to save 800 to 900 MW of electricity to cope up with the power deficit would create enormous problems for the steel industry and thousands of workforce, associated with this sector, Mahfooz Elahi has stated while meeting a delegation of the representatives of steel melting units operating in Islamabad.

The government has adopted anti growth policies that have badly ruined the industry, increasing number of sick industries by many folds and depriving thousands of people from their jobs. Still no long terms solution could be evolved to protect the industry, whereas negative measures are being taken to completely destroy the industrial sector in the country, he said.

Representative of the steel units said that a number of industries and trades are associated with the steel industry, and implementation of one month plan of closure of electricity to steel industrywould create extreme damaging effects to the economy, which is already trying to move on clutches.

He said that government should call on an emergent meeting inviting representatives of the steel industry before taking any decision otherwise,steel mills will lodge a country wide campaignagainst the brutal action of the government.

President said that business community had high hopes from the democratic government, but unfortunately, it could not meet the expectation of the any segment of the society. Load shedding has become the fate of this country, which has destroyed the industry and is creating unemployment at a massive scale.

He said that at one end, government makes announcement for the revival of industry, whereas on the other hand steps are taken to cut the throat of industry that generates employment for hundred thousands of people and pays a huge amount on in the government exchequer in the form of taxes. He also questioned that why industry is always made a scape goat to overcome power outage, which plays an important role in the economic development of the country.

He said that in case of closure of steel industry for a month, banks should give relief to the industry in shape of waiving off markup on the loans for a period of at least one quarter to compensate the loss.

On the one hand the government has launched social initiatives like the Benazir Income Support Program, which is being run on the taxpayer’s money to support the needy, but on the other hand, government, adopting anti-growth and anti-employment policies, is taking away employment from the already employed and restricting the taxpayer’s ability to pay taxes, President said.

He said that almost every industry in the country has badly hurt and is dying due to poor economic policies of the government. He further said that business community complete rejects government plans to close down the steel melting and re-rolling units and emphasized that government should restrain itself taking such decisions in the national interest and to save the industry from further destruction.